Over eight years, Dan Lok managed to build a five-figure recurring revenue stream from subscribers to Table Tennis Master. When tragedy struck, Lok decided to sell focusing on speed and ease of transaction over maximizing his financial take.
Dan Lok packaged a set of table tennis video tutorials into a membership website and charged a subscription fee to join. Over eight years, Lok managed to build a five-figure recurring revenue stream from subscribers to Table Tennis Master.
Table Tennis Master was one of 20 businesses Lok was developing simultaneously when tragedy struck his family. That’s when he decided to simplify his life and sell off some of his business interests.
In Lok’s case, speed and ease of transaction were more important than maximizing his financial take, so in this episode you’ll hear the story behind the sale of Table Tennis Master and learn some unconventional tactics, such as:
- How to sell your business in a few weeks.
- A sure-fire way to tell if you should keep or sell your business.
- How to identify and engage friendly acquirers who can make a quick offer.
- How to structure your deal when speed and efficiency are more important than value.
Lok’s case illustrates one of the immutable laws of business ownership: You never know when you will need to sell. Lok was lucky because he had a short list of natural acquirers who valued his recurring revenue. Would it be as easy for you to sell your business in a few weeks? Find out by completing the Value Builder questionnaire. We’ll evaluate your business across eight dimensions acquirers use to vet businesses to buy. Start now.
Click to Tweet: Ep. 86 of Built To Sell Radio, “The Speedy Sale”.
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About Dan Lok
Dan Lok, is a business mentor and internet marketing authority, with an inspirational story that resonates around the globe. The Dan Lok brand is a global movement with one mission: To empower 1,000,000 entrepreneurs to become successful in life and in business.
With nearly 1,700 members, Dan operates one of the largest entrepreneurial community in Canada – Vancouver Entrepreneurs Group. Dan’s recently launched his YouTube Channel already has nearly 1,100,000+ views.
As the founder of Shoulders of Titans podcast, Dan is in the unique position of being able to sit down with many of today’s top CEOs, revolutionary entrepreneurs and business leaders to uncover and share the secrets behind their extraordinary success.
Most owners fantasize about what their business could be worth one day, but very few take this simple step to ensure they get their dream number.
The Mortgage Reports founder, Dan Green capitalized on the internet traffic his site generated by selling leads to mortgage lenders. Within three years, Green crested a million dollars a year in annual revenue. When he decided to sell he quickly got three offers from the companies he was selling leads to.
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